According to Stratistics MRC, the offshore support vessel market accounted for $29.15 billion in 2015 and is expected to reach $43.07 billion by 2022 growing at a CAGR of 5.7%. The offshore support vessels are used to transport the food, goods, employees, and other stuff to the field from shore. The offshore support vessels are now available in different categories with increasing technological superiority. The factors favoring the market growth include growing offshore fields, increasing demand for energy, declining oil and gas reserves, growing offshore and subsea exploration activities. However, environmental issues, lack of skilled labor and high initial prices are the restraints for market growth.

Anchor Handling Towing Supply Vessels (AHTS) is the leading segment with more than 50% of share in global offshore support vessels market followed by platform support vessels. Asia Pacific is expected to be the fastest growing market with increasing deep water exploration activities. Brazil, Middle East, Mexico and South East Asia have the promising markets for offshore support vessels market.

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